Asian Shippers complain

The Asian Shippers Council is accusing shipping lines of keeping freight rates artificially high.  The Chairman of the Council said that rates have been going up artificially for months, due to the cartel-like action of the shipping lines; transpacific freight rates have grown by more than 180% during the past twelve months.  Peak season surcharges have also reached an all-time high.  Shipping capacity is in reality still in over-supply, but carriers have reduced nominal capacity by slow steaming and laying up ships.  The Shippers Council is asking governments to intervene.